Musk's compensation package not only outstrips Tata Motors but also surpasses the total revenues of other prominent Indian entities, including HPCL (USD 52.09 billion), SBI (USD 40.35 billion), Rajesh Exports (USD 37.48 billion), and TCS (USD 29.04 billion).
However, it falls short of giants like Reliance Industries (RIL) at USD 108.62 billion, Life Insurance Corporation of India (LIC) at USD 96.10 billion, Indian Oil (IOC) at USD 93.84 billion, and Oil and Natural Gas Corporation (ONGC) at USD 77.54 billion.
Analysts and investors speculate that approving Musk's remuneration package will mitigate the risk of him leaving the electric vehicle maker.
Tesla's revenue and adjusted core profit were also milestones in Musk's USD 56 billion stock options package, with the highest revenue target being USD 175 billion cumulatively in four consecutive fiscal quarters.
However, despite the vote of confidence from the Tesla board, the company faces challenges as its sales have been declining over recent quarters. Total revenues have fallen by 8.7% to USD 21,301 million compared to USD 23,329 million in the same quarter the previous year, according to data collected from the first quarter results of 2024.
Year-to-date, Tesla's shares have declined nearly 25%, with a 32% plunge in the last year.
In the United States, top-paid CEOs include Alphabet's Sundar Pichai with compensation of approximately USD 226 million in 2022, followed by Broadcom's Hock Tan with USD 161.83 million, and Apple's Tim Cook with USD 63.21 million.
Tata Motors Financial Performance
For FY24, Tata Motors reported record revenues of INR 4,37,900 crore (USD 52.44 billion), an all-time high EBITDA at INR 62,800 crore (USD 7.52 billion), and a net profit of INR 31,800 crore (USD 3.8 billion).
In Q4 FY24, the revenue stood at INR 1.20 lakh crore, marking a 13.3% YoY increase, while the consolidated net profit for the quarter ended March 31, 2024, reached INR 17,529 crore, a 46% jump over the net profit of INR 12,033 crore reported in the year-ago period.
In Q4FY24, the earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at INR 17,900 crore, up 26.6% YoY.
On a year-to-date basis, Tata Motors shares have surged by 25%, while they have gained 74% in the past year.
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